RISK AND TECHNOLOGICAL ADVANCE IN THE URUGUAYAN LIVESTOCK SECTOR: A QUADRATIC PROGRAMMING APPROACH
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The importance of the livestock sector to the economy of Uruguay can
hardly be overstated. Livestock related exports averaged 83.7 percent of
the country's total exports in the period 1967-1973 (Munoz Duran). In
recent years, however, the country has faced a problem of a relatively
slow rate of adoption of production increasing technologies on the part
of livestock producers. This has resulted in low levels of livestock
productivity, a low rate of growth in the economy and a deteriorating
balance of payment position (Vazquez).